Anuvu Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Financing Arrangements (Tables)

Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2020

A summary of our borrowings as of March 31, 2020 and December 31, 2019 is set forth below (in thousands):



	March 31, 2020			December 31, 2019
Senior secured term loan facility, due January 2023⁽⁺⁾	$	504,680		$	506,037
Senior secured revolving credit facility, due January 2022⁽⁺⁾⁽¹⁾	80,615			43,315
Convertible senior notes due 2035⁽²⁾	82,500			82,500
Second Lien Notes, due June 2023⁽³⁾	188,716			178,034
Other debts⁽⁴⁾	22,937			23,685
Unamortized bond discounts, fair value adjustments and issue costs, net	(58,068		)	(60,509		)
Total carrying value of debt	821,380			773,062
Less: current portion, net	(804,575		)	(15,678		)
Total non-current	$	16,805		$	757,384

⁽⁺⁾This facility is a component of the 2017 Credit Agreement.

⁽¹⁾As of March 31, 2020, the available balance under our $85.0 million Revolving Credit Facility is $0.0 million (net of outstanding letters of credit). The 2017 Credit Agreement provides for the issuance of letters of credit in the amount equal to the lesser of $15.0 million and the aggregate amount of the then-remaining revolving loan commitment. As of March 31, 2020, we had outstanding letters of credit of $4.4 million under the 2017 Credit Agreement.

⁽²⁾The principal amount outstanding of the 2.75% convertible senior notes due 2035 (the “Convertible Notes”) as set forth in the foregoing table was $82.5 million as of March 31, 2020. The carrying amount, net of debt issuance costs and associated discount, was $71.3 million and $71.1 million as of March 31, 2020 and December 31, 2019, respectively.

⁽³⁾ The principal amount outstanding of the second lien notes due June 30, 2023 (the “Second Lien Notes”) as set forth in the foregoing table was $188.7 million as of March 31, 2020. The value allocated to the attached penny warrants and market warrants for financial reporting purposes was $14.9 million and $9.3 million, respectively. These qualify for classification in stockholders’ equity and are included in the condensed consolidated balance sheets within “Additional paid-in capital”.

⁽⁴⁾ As of March 31, 2020, Other debts primarily consisted of (i) $3.4 million remaining financed amount for transponder purchases, which was payable April 2020, and remains unpaid at filing date; and (ii) $18.4 million of finance lease liability relating to an assessed right-of-use over a satellite bandwidth capacity (refer to Note 4. Leases for further details).

Schedule of Maturities of Long-term Debt

The aggregate contractual maturities of all borrowings, including finance leases, subsequent to March 31, 2020 were as follows (in thousands):



Years Ending December 31,	Amount
2020 (remaining nine months)	$	13,633
2021	29,818
2022	110,564
2023	633,974
2024	3,236
Thereafter	88,223
Total	$	879,448